Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Mumbai-based skill development and vocational training platform, EduBridge, has raised $2.5 Mn (INR 17.1 Cr) in Series A round of funding led by Insitor Impact Asia Fund, and existing investor Acumen Fund.
Started in 2009 by a group of IIM alumni and professors, EduBridge is an education and training company that seeks to transform the lives of unemployed youth in rural and semi-urban India. It has partnered with National Skill Development Corporation (NSDC) to help to train India’s rural and semi-urban youth.
It currently has 60 training centres in Northeast, South and Western India, and claims to have trained 50,000 unemployed youth from rural India over the last five years.
Apart from strengthening their existing presence, the firm plans to use the money to expand operations to Gujarat, Odisha, Jharkhand and Bihar.
Girish Singhania, founder of EduBridge Learning, said, “We also plan to spend on integrating various technological applications into our system, improving the accessibility of our services in rural India.”
It is also backed by Acumen Fund, which invests in firms that create a social impact. Prior to this, Acumen had invested $300K (INR 1.5 Cr) in EduBridge.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.